Official announcements from Russian government or financial regulatory bodies, news reports from reliable sources

Russia to Launch Two Crypto Exchanges and BRICS Stablecoin

Aug 23, 2024, 08:39 AM

Russia is planning to establish two cryptocurrency exchanges as part of its strategy to enhance foreign economic activities. According to reports by Kommersant, one exchange will be located in Moscow and the other in St. Petersburg. Additionally, Russia aims to develop a stablecoin linked to the Chinese Yuan (RMB) and the BRICS currency basket. This initiative is intended to facilitate international trade and strengthen economic ties within the BRICS nations.